Enova reports USD172m revenue in Q2 2016.
BANKING AND CREDIT NEWS-August 1, 2016-Enova reports USD172m revenue in Q2 2016
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Enova International (NYSE: ENVA) has reported total revenue of USD172.5 million in the second quarter of 2016, an increase of 17.9 percent from USD146.3 million in the second quarter of 2015, the company said.
Second quarter 2016 net income of USD8.2 million, in the second quarter of 2016 declined from USD10.9 million, in the second quarter of 2015.
The company reported gross profit margin of 62.1 percent in the second quarter of 2016 compared to 71.6 percent in the second quarter of 2015. The company said higher gross profit margins in the second quarter of 2015 were heavily influenced by regulatory changes in the United Kingdom and the resulting wind down of its line of credit portfolio in that market.
Enova ended the second quarter of 2016 with unrestricted cash and cash equivalents of USD39.2 million. As of June 30, 2016, the company had total debt outstanding of USD588.8 million, which included USD106.8 million outstanding under Enova's USD175 million securitization facility. During the second quarter, Enova generated USD81.9 million of cash flow from operations.
Enova (NYSE: ENVA) is a financial technology company offering consumer and small business loans and financing to non-prime consumers and small businesses.
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